AnaCap and FREO acquire 11,100 sq m Paris office development

29/03/2021

Freo-Group-News-Chatillon-Office-Development

AnaCap Financial Partners (“AnaCap”) and FREO Group, the trusted operating partner of global investors that provides unrivalled access to on-the-ground real estate experts in Europe, the UK and the US, have agreed the forward purchase of a 11,100 sq m office development in the south of Paris from the COFFIM Group.

Due for completion in early 2023, the office development has been designed to meet post-COVID expectations in terms of air ventilation and access to outdoor spaces. The office will include 10 terraces and more than 800 sq m of gardens on the ground floor. There will also be 100 bicycle racks, electric chargers for cars in addition to the targeting of a number of ESG-related certifications, including HQE, BREEAM and OsmoZ (a certification introduced in 2018 that is based on the quality of life of employees and the performance of organisations through HR policies, interior fittings, and building quality).

The building is well-located in Chatillon, an easily accessible district with a low vacancy rate and benefits from easy access via the green corridor, directly by foot or bicycle from the Paris Montparnasse railway station and the future Paris Métro Line 15. The building has been designed by Quadrifiore Architects and COFFIM will continue to develop the asset until completion.

The advisers for this transaction were: Screeb (Notary), Fieldfisher (Lawyer), JLL (technical adviser), C&W (broker).

Romain Frémont, Managing Director of FREO France, said: “This acquisition is a strong endorsement of our commitment to and confidence in the post-COVID office, as well as the robust demand for certified and ESG-compliant assets. Paris remains a dynamic market that is characterised by a lack of core supply, and this was a rare opportunity to acquire a development opportunity in a compelling location. We believe that well-connected locations such as Chatillon will become increasingly popular in the wake of the pandemic.”

Malena Foche, Head of Investment of FREO France said: “Following the pandemic, the role of high quality and ESG-led offices will be more important than ever before as tenant’s seek to prioritise the wellbeing of their employees. We look forward to working with AnaCap to deliver this best-in- class building to the Paris market.”

Sebastien Wigdo, Managing Director at AnaCap Financial Partners, said: “This acquisition is in line with our investment strategy to acquire post-COVID office buildings that meet the highest of standards, at reasonable rent levels in well-connected and sought-after locations.”